Transparency is one of the most powerful tools in Openn. Used correctly, it creates competition among buyers, generates FOMO (fear of missing out), and provides social proof that validates what you tell buyers. The recommendation is to use transparency in an agile manner — activating different levels at the right moments rather than turning everything on from the start.
SCENARIO 1: ONE OFFER, NO OTHER INTERESTED PARTIES
- If the offer is strong and meets vendor expectations, do not turn on any transparency. Handle the negotiation one-on-one, as you would in a traditional sale.
- If the offer falls short of expectations, toggle on Number of Buyers and Observers. This signals that an offer exists and competition is present, generating FOMO if new buyers emerge.
SCENARIO 2: MULTIPLE OFFERS AT SIMILAR PRICE POINTS
Use transparency progressively as the campaign moves toward its close:
- Immediately: turn on Number of Buyers and Observers to confirm the competition is real and not fabricated.
- Last 24-36 hours: turn on Property Ranking, showing buyers where they stand on price so they improve their offers to reach first position. Avoid activating too early, as it may deter a late high offer.
- Last 6-12 hours: if strong competition remains, toggle on Highest Offer (top offer only) or Offer Value (all offer amounts). This price transparency acts as social proof — buyers see they aren't overpaying and become more willing to push higher.
SCENARIO 3: MULTIPLE OFFERS WITH ONE HIGH OUTLIER
- Toggle on Number of Buyers and Observers as soon as multiple offers are received.
- Do not activate further transparency. If the outlier buyer sees how far ahead they are, they may lower or pull back their offer.
- Instead, contact each buyer individually and let them know — using Openn as evidence — that there are multiple offers. Set a deadline and ask all buyers for their best and final offer.
Example: a property priced at $3.5M receives offers of $3.6M, $3.3M, $3.2M and $3.1M. The agent turns on number of buyers and observers only, engages each buyer individually, and uses the platform to validate the competition before calling for best and final offers.
COMMON QUESTIONS
Q: Should I always turn on transparency when I receive an offer? A: Not necessarily. With one strong offer that meets expectations, negotiate one-on-one without transparency. Transparency is most valuable when there's genuine competition to amplify.
Q: When is the best time to turn on Property Ranking? A: Around the last 24-36 hours, once you're confident no new offers are likely. Too early risks deterring a buyer who might otherwise submit a higher offer.
Q: What if one offer is much higher than the rest? A: Only turn on Number of Buyers and Observers to confirm competition exists; avoid revealing rankings or values so the outlier doesn't reduce their offer.
Q: How does transparency validate what the agent says? A: Openn displays real-time offer and buyer data buyers can see directly, so you don't rely solely on verbal assurances — the system provides verifiable evidence of competition.
Q: Can I change transparency settings partway through a campaign? A: Yes. Settings can be toggled at any point, which is exactly why the agile approach is recommended.
(Note: this article accompanies a video tutorial in the Openn help centre; the video should be re-added here.)
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article